EddieJayonCrypto
21 Aug 25
US regulators warn against viral social media advice promoting bank fraud by writing and depositing checks exceeding available funds to withdraw money before clearance. The FTC emphasizes this practice is illegal, leading to repayment obligations, bank expulsion, and criminal charges. Authorities ar...
US regulators have issued a stark warning against viral social media advice that encourages risky and illegal financial behavior. The Federal Trade Commission (FTC) recently released a consumer alert about a scheme circulating online, which advises people to write checks for amounts exceeding their actual funds, deposit them into a separate account, and withdraw the money before the checks clear.
However, the FTC clarifies that this so-called "hack" is actually bank fraud and can trigger serious legal repercussions. Those who follow the advice could end up responsible for repaying all withdrawn funds, face expulsion from their bank, and confront criminal charges. The warning highlights the real dangers behind seemingly easy-money social media trends.
Authorities have already started cracking down on such fraudulent activities. A prominent case from February involved Louisiana police who issued an arrest warrant for Tashiuntay Miles. She allegedly deposited $185,000 in fake checks into her account and fled. Investigators revealed that at least one check was forged with her personal details, showcasing the severe consequences of engaging in these unlawful schemes.
This cautionary tale underscores the importance of skepticism when encountering viral financial advice and the serious risks of participating in fraudulent banking tactics. Legal trouble and financial loss far outweigh the fleeting allure of quick cash.